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Northern Gritstone Limited

We are an independent investment company, supporting the leading businesses of tomorrow which emerge from the world-class science and innovation hub that is the North of England today.

Initial Target Disclosure: October 2023

Percentage of assets covered by the Net Zero Asset Managers Commitment Statement

100% of total AUM (USD $0.25 billion)

Information on interim target(s) covering the proportion of assets to be managed in line with net zero

Baseline(s):

2023

Portfolio coverage baseline

0%

2023

Engagement threshold baseline

0%

Target(s):

2030

Portfolio coverage target

30 % of invested capital or financed emissions to be managed in alignment with net zero by 2030.

2040

80% of invested capital to be managed in alignment with net zero by 2040 and 100% by 2050.

2030

Engagement threshold target

50% of financed emissions under engagement by 2030.

2040

100% of financed emissions under engagement by 2040.

GHG scopes included:

Currently the Company measures its own scope 1, 2 and 3 carbon emissions and is in the process of collecting the carbon emissions of investee companies, which will be reported in the financial year ended 31 March 2024 using the operational control approach and initially cover investee scope 1 and 2 emissions, with scope 3 emissions to be incorporated the following year.

Methodology:

Net Zero Investment Framework

Scenario(s):

Not currently possible due to an absence of data, but will model this in the future.

Additional information

Proportion of AUM committed:

All assets are early stage venture capital investments in which Northern Gritstone holds a minority stake.

Policy on coal and other fossil fuel investments:

See investment exclusion list of our Purpose & Impact policy (Page 2): https://static1.squarespace.com/static/646de93004d1997ec858f7de/t/65250c88da67713f3a04a4e6/1696926856656/Purpose+%26+Impact+Policy.pdf

Further information:

2023 annual report (See page 19):
https://static1.squarespace.com/static/646de93004d1997ec858f7de/t/64de12ffe9d5ce7d9358c937/1692275463239/NG+Annual+Report+Mar+23.pdf